GSK Lowers 2024 Vaccine Sales Forecast
GSK Lowers 2024 Vaccine Sales Forecast
GSK Lowers 2024 Vaccine Sales Forecast
News summary

GSK has revised its 2024 vaccine sales forecast downward due to disappointing quarterly revenue from its shingles and RSV vaccines, resulting in a 1.4% drop in share prices. CEO Emma Walmsley cited weak U.S. demand and a decision by a U.S. public health agency to tighten age recommendations for RSV vaccinations as significant factors behind the sales forecast adjustment. Sales of the RSV vaccine Arexvy reached £62 million, falling short of the expected £70 million, while Shingrix generated £832 million, also below market expectations. Despite these setbacks, GSK exceeded overall second-quarter financial forecasts driven by strong performance in cancer, HIV, and specialty medicines, leading to an increase in its full-year sales and profit estimates. Analysts have expressed concerns that the downside from vaccines could outweigh the positive growth from other medicines. GSK remains optimistic about its long-term prospects, emphasizing a focus on infectious disease drugs and vaccines.

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